MANILA, Philippines — Customers in areas being serviced by Visayan Electric Co. Inc. (VECO) can expect a decrease of P0.89 per kilowatt-hour (kWh) in their electricity bill this month and in March.
Quennie Sanchez-Bronce, VECO reputation enhancement department head, said it is the third time since December that the company is implementing a decrease in power rates.
Bronce said VECO implemented a fivecentavo per kWh drop in the December to January electricity billing and another 27 centavos in the January to February billing cycle.
Raul Lucero, VECO president and chief operating officer, said the 89 centavos is the biggest electricity rate reduction in the past several months.
It means that a household with an average monthly consumption of 200 kWh will save P178.
VECO said the drop in electricity rates is due to the downward trend in the price of coal in the world market.
It also cited the decrease in the price of electricity in the Wholesale Electricity Spot Market.
Visayan Electric is the second largest electric utility company in the Philippines.
It serves the cities of Cebu, Mandaue, Talisay and Naga and Liloan, Consolacion, Minglanilla and San Fernando in Cebu province. –/The Freeman